If Cruise the World is in tacit collusion with three smaller cruise firms and Cruise the World consistently makes price changes that the other three firms then also make, this is an example of ________ by Cruise the World.
A) a precommitment
B) price leadership
C) a meet-the-competition clause
D) a meet-or-release clause
B) price leadership
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As the marginal propensity to consume ________, the value of the multiplier increases
A) decreases slightly B) is constant C) increases D) decreases
Of the four models of the business cycle, which model's implication concerning the change in real wages during recessions is consistent with actual observed changes in real wages during recessions?
A) the Real Business Cycle theory B) the Friedman-Phelps-Lucas Model C) the Keynesian Model D) None of the above.
There are apartments in Chicago whose rooftops overlook Wrigley Field where the Chicago Cubs play at home. On game day you can find free riders on the roof enjoying _____________
a. a near public good b. free property rights c. a positive externality d. a pure public good e. excess utility
According to the above table, if real Gross Domestic Product (GDP) equals $25,000, what is the average propensity to save?
A. 0.88 B. 0.0 C. 0.12 D. 0.56